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CBN Revokes Skye Bank’s Operating Licence

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The Central Bank of Nigeria () has taken over Plc.

Although details of the development are still sketchy, our source learnt the financial sector regulator has already approved a change of name of the bank to Polaris Bank Plc.

The CBN governor, Godwin Emefiele, has also announced the injection of a fresh N786 billion into bank, while the Asset Management Corporation of Nigeria (AMCON) has been asked to immediately commence the sale process of the assets of the defunct bank from next Monday.

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The managing director of the Nigeria Deposit Insurance Corporation (NDIC), Umar Ibrahim, has confirmed the development through the spokesperson of the Commission, Mohammed Ibrahim.

More details coming…

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